To Be Eighteen Or Not To Be .. That Is the Question

Not only does it herald a chance for freedom and a new way of being. eighteen also marks an initiation into what the responsibilities of being an adult entail!

In many countries this Summer sees students sitting their final school exams, stressing over getting enough points to ensure they are allocated their chosen college placements.

It’s high pressure for many.   One or two, what they may consider “bad papers” that don’t suit them, could see them worrying for months about whether or not they have made the cut.  

                                The trajectory of their future hangs in the balance.  

This is also a time when many young adults are making a bid for freedom on the driving front.    The dream of jumping in their car, on their own schedule, no mom, no dad, no annoying brother, or sister, just them, their friends, and the open road!

But owning a car at 17 or 18 isn’t a dream that comes true for every young adult.   The costs can be prohibitive and enduring the shared family station wagon until they earn their own income might be the best they can hope for!

There are so many factors to consider, when pondering whether purchasing a car is the most cost-effective way forward or not.   Like the hike in fuel prices and the cost of student accommodation.  

Some of the variables include figuring out whether -

staying at home v paying fuel costs

is a better option than

paying accommodation v paying fuel costs

For students who do go down the route of purchasing a car there is the option of taking out a student loan, once of course they have a guarantor to back them.   Most guarantors are parents who promise to make the repayments if the student can’t do so themselves.  You can find more information at Car Loans 4U.

Another factor is determining any savings that could be made if a transportation alternative could be found, these types of issues can be investigated and calculated here.   While it may put the dream of car ownership on the back burner for a while in the long run it could be the wisest choice.

AND of course, the college costs itself may need to be considered when deciding on the course of choice!

College costs have ballooned over the past number of years and in American “More than 43 million borrowers collectively owe about $1.6 trillion in federal student loans.” according to a Wall Street Journal post. 

The same publication have issued a comprehensive digital guide to Student Loans; Navigating the Myths and Misunderstandings of College Debt.   It contains case studies of borrowers, tips from financial experts, checklists to navigate the borrowing process and a glossary of commonly used terms.   

Of course, the best things in life are worth challenging ourselves for, and we should never put our dreams on hold indefinitely if what we chase seems too far away for now. 

In the words of Lightning McQueen,

                                                “The racing is the reward, not the stuff”.  

Know your path and you will find your way, in the meantime, get set to race and make sure to have some fun along the way.